On Monday 3/4 D and 3/4 BB were learning about needs and wants. Firstly we did an activity where we had to decide what we could pack in our back pack if we were going camping for the weekend. We all paired up and the partner had to be from the other class. We had to choose what things we would need for survival as opposed to things we could live without. We discussed the difference between a need and a want.
On Tuesday we continued to look at needs and wants. We brainstormed all the needs and wants for different people in the community – a baby, an elderly couple and a child. Next we read about a book called Harry and Herbert.
One day they were fishing and they found treasure. Herbert pushed Harry off a boat and took the treasure to a fortress that he made after a while. Herbert could not sleep but Harry could sleep. Herbert could not sleep because he was too worried about someone taking his treasure which is a want. Harry could sleep because he had family and a shelter and a bed. Harry got it better than Herbert. Good Choice Harry!!
On Thursday we read a book called ‘Alexander Who Used To Be Rich Last Sunday’. This book was about a boy called Alexander who didn’t realise the difference between needs and wants. So he didn’t spend his money wisely, and instead he got something he really wanted not what he needed.
This is important to realise because some people waste money on what they really want and then when they need something they don’t have any money left to pay for their needs. You need to think carefully about what to spend your money on. It is important to purchase a need before a want.
Then we were assigned to do a Diamond Ranking of our needs and wants. At the top was the thing we needed most, and then down at the bottom, was something we wanted, but it wasn’t needed. It was really fun, and we all thought about different things!
On friday we talked about budgets. We investigated what the term budgeting means and all of the different types of budgets. A budget involves having a plan for spending and saving money. A budget is the amount of money that is available for spending and a plan on how it will be spent. Individuals and families can have budgets but so too can the government. This is called the Federal budget.
We watched a Behind the News video about the 2010 Federal Budget and it talked to the treasurer of Australia, Wayne Swan. He shares the money to ministers, which are people who are in charge of different states, and different things in life, such as: Minister Of Education, Minister Of Housing, Minister Of Environment, Minister Of Public Transport and Minister Of Health And Safety.
And if, say, the Treasurer makes more tax for parents to pay, it may sound like it doesn’t involve you, but if your Mum and Dad need to pay more tax, you pocket money will go down. So it affects a lot of people. That’s why the Treasurer needs to keep things even, or people will be affected, good or bad.
What does money mean to you?
If you were on a hiking trip what would you take?
How does money help us?
How can money effect us in bad ways?
Blog post written by Lachlan, Luca, Liv and Livi.